The price of the dollar maintained its stability once morest the Egyptian pound today, Thursday, 12-30-2021, at the beginning of morning transactions in banks operating in Egypt, recording at the National Bank of Egypt stable at a price of 15.64 pounds for purchase, 15.74 pounds for sale, and the average exchange rate in the Central Bank of Egypt recorded 15.66 pounds To buy, 15.75 pounds to sell.
And in the Commercial International Bank (CIB), it recorded 15.66 pounds for purchase, 15.76 pounds for sale, while in Cairo Bank, its price was recorded at 15.66 pounds for purchase, 15.76 pounds for sale.
“The Seventh Day” provides a service that includes publishing currency rates in all Egyptian banks and the banking market, and includes an immediate update of prices if they change.
The price of the dollar in banks was recorded as follows:
The price of the dollar in the Central Bank of Egypt
15.66 pounds to buy.
15.75 pounds for sale.
The price of the dollar in the National Bank of Egypt
15.64 pounds to buy.
15.74 pounds for sale.
The price of the dollar in the Bank of Alexandria
15.66 pounds to buy.
15.76 pounds for sale.
The price of the dollar in Banque du Caire
15.66 pounds to buy.
15.76 pounds for sale.
The price of the dollar in Banque Misr
15.64 pounds to buy.
15.74 pounds for sale.
The price of the dollar in the Commercial International Bank
15.66 pounds to buy.
15.76 pounds for sale.
The price of the dollar in Abu Dhabi Islamic Bank
15.68 pounds to buy.
15.76 pounds for sale.
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Analyzing the Stability of the Egyptian Pound Against the US Dollar: A Shift in Currency Dynamics
As a renowned blog news writer, I have been closely following the developments in the Egyptian economy, particularly the fluctuations in the exchange rate between the Egyptian pound (EGP) and the US dollar (USD). In a recent news article dated December 30, 2021, the price of the dollar maintained its stability against the Egyptian pound, recording a stable exchange rate at the National Bank of Egypt and the Central Bank of Egypt. However, this stability has given way to a significant shift in the currency dynamics over time.
Fast forward to the current date, October 10, 2024, and the exchange rate has undergone a substantial change. According to recent web search results, the exchange rate has dropped to 1 EGP = 0.02062 USD [[2]], 1 EGP = 0.02 USD [[3]], and 0.0206207 [[1]]. This represents a significant decline in the value of the Egyptian pound against the US dollar, with a monthly decrease of 0.38% and a yearly decrease of 36.39% [[1]].
What do these numbers mean for the Egyptian economy, and how can we analyze the implications of this shift? The decline in the value of the Egyptian pound can have far-reaching consequences, including higher import prices, reduced purchasing power for consumers, and potential inflationary pressures. On the other hand, a weaker currency can also make Egyptian exports more competitive in the global market, potentially boosting the country’s economy.
To put these numbers into perspective, let’s consider some examples. According to the exchange rates provided, 100 EGP is equivalent to approximately 2.062 USD [[2]], 2.0 USD [[3]], and 2.06207 USD [[1]]. This represents a significant decrease in the purchasing power of the Egyptian pound compared to the US dollar.
the stability of the Egyptian pound against the US dollar in 2021 has given way to a significant decline in its value over time. As the exchange rate continues to fluctuate, it is essential to stay up-to-date with the latest developments and their implications for the Egyptian economy. Whether you are an investor, a consumer, or simply interested in following economic trends, understanding the dynamics of the Egyptian pound and US dollar exchange rate can provide valuable insights into the complexities of global currency markets.
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